II
PUBLIC LEDGER
PAGE TWO
WEDNESDAY. Wm.
BRYAN AGAINST
OWNERSHIP BY
THE GOVERNMENT
Gives (Islands Committee His
Views on Railroad Control. '
COMPETITION PREFERABLE.
I "55T """J
Federal Regulation Should Not Be Al
lowed to Exclude Exercise of State
Authority, He Contends Thinks Rail
road Stocks Should Represent Actual
Value and Be Stable as Government
Bonds.
I
Washington, Doc. 11. William J.
Bryan, who startled the country ten
years ago by advocating government
ownership of railroads, appeared be
fore the Newiands Joint Committee on
Interstate Commerce last week in sup
port of the claim that the states should j
be allowed to retain authority over the
regulation of all transportation lines !
within their borders. Mr. Bryan ex
plained that he had long regarded gov
ernment ownership as inevitable, but
only because of railroad opposition to I
effective regulation.
Against Government Ownership.
"Personally I cannot say that I de
sire government ownership," he ex
plained, "because I lean to the indi
vidual idea rather than to toe collec
tive idea; that is, I believe that gov
ernment ownership is desirable only
where competition is impossible."
Alfred IV Thorn, counsel to the Rail
way Executives' Advisory Committee,
previously had presented before the
members of the Newiands Committee
as one of his reasons for urging a bet
ter balanced and more systematic reg
ulation of railroads the argument that
this is the only alternative to govern
ment ownership. Calling attention to
the restrictions imposed upon the
transportation lines by conflicting state
laws and regulations, to the practical
cessation of new construction and to the
impossibility under existing conditions
of securing the new capital needed for
extensions and betterments of railway
facilities, he warned the Congressmen
that unless they provided a fair and
reasonable system of regulation that
would enable the railroads to meet the
growing needs of the country's busi
ness the national government would
be compelled to take over the owner
ship of the lines with all the evils at
tendant upon such a system.
Preservation of Competition.
Mr. Bryan, on the. other hand, holds
that the further extension of federal
authority over the railroads would be
a step in the direction of government
ownership. He advanced the view that
the centralization of control in the
hands of the national government
would impose too great a burden u pon
tile regulating body, would offer strong
temptation to railroads to interfere in
politics and would encourage the gen
eral movement toward centralisation
of power in the federal government at
the expense of the states. He said that
he did not object to consolidations of
railroad lines so long as jhey did not
destroy comj petition, that he knew of
no complaint against great railway
systems because of their size and that
he believed that the preservation of
competition was the test to be applied
to all consolidations.
Regulation of Securities.
Mr. Bryan declared himself in favor
of national regulation of railway stocl
and bond issues, but added that hesa
no reason why that should exclude tlu
states from acting on the same sub
ject as to state corporations. "I would
like to see the stock of a railroad, as
long as it is in private hands, made as
substantial and as unvarying as the
value of a government bond." he as
serted. He suggested that railroad capitali
zation be readjusted to equalize it with
actual valuation of the property rep
resented, making due allowance foi
equities, and-that when this was done
the roads should be allowed to earn
sufficient income to keep their stock
at par and to create a surplus. The
latter, he tentatively proposed, might
be allowed to amount to 25 per cent
of the capital.
Railway Earnings Low.
This subject of railroad capitalization
and the amount of railroad earnings
received further attention from the
committee during its recent sessions.
In answer to questions by Senator
Cummins, Mr. Thom submitted figures
showing the net earnings of the roads
in recent years. These figures show
that during the five years from 1905
to 1910 the average net earnings were
5.25 per cent of the net capitalization,
while for the five years from 1910 to
1915. the average was only 4.56 per
cent. The total earnings -on the stock
I I Kl lvX.jrSkTll!,'- II iu.jii II i .. .irj VKttMS:;it.Ko-::rf N
H m v hSMoKmmssmss. .Jam
H Copyright Hart Schaffner& Marx ' 'afVj P fi rjfj Q 'JS-
: HOLIDAY MOTS TO MAKE EflBLY SHOPMRG EASY
NOW IS THE TIME TO VISIT THE ANCHOR STORE WITH ITS FULii AND COMPLETE LINES OF CHRISTMAS GOODS. WE HAVE
ALSO ADDED A CANDY DEPARTMENT TO SAVE YOU TROUBLE AND MONEY. TRY IT.
RE LOW YOU WILL FIND MANY HELPFUL HINTS TO MAKE BUYING AT THE GREAT STORE A PLEASURE.
2C
II
M M
All of the following gifts are in stock
at our store. There are many,
many others that are not listed here.
Gifts for Mother and Sister
Handbags, in the newest designs and
leathers 50c to $7.50
Neckwear, nobby patterns 25c to $2
Kid Gloves, fancy stitching 1.50 to $2
Boudior Caps in holiday box 5c to $2
Brassieres, in holiday box 50c to 1.50
Handkerchiefs, dainty patterns, won-
. .derful assortments 5c to $2
Silk Hose, all colors $1 to $2
Bedroom Slippers, all colors, $1.25
. .to $2.50
Toques and Scarfs, assorted,all prices
You will find among the following
some very attractive Gifts at any
price you wish:
Clocks and Novelties . . Parasols
Silk Shirtwaists
Fancy Boots or Shoes
Toilet AVaters
Perfumes
Silk Kimonos
Wardrobe Trunks
Ivory Sets
Work Baskets
Baskets
Sweaters
Suits
Dresses
Hats
Statuary
Casseroles
Brass Ware
Cut Glass Bowls
'DO YOU CHRISTMAS SHOPPING
EARLY."
r
ra
Gifts for Father and Brother
Ties, in Xmas Boxes 50c to $1
Pajamas, all colors $1 to $2.45
Leather Sets & Collar Bags all prices
Shirts, nobby patterns .. 95c to $3.50
Suspenders, in Holiday Boxes. . .50c
Hosiery, Lisle or Silk 25c to $1
Handkerchiefs, a good gift 5c to 50c
Box of Collars 6 for 90c
Walking Sticks, good designs $4
Hats, latest styles $3 and $4
Auto "Robes $5 to $12.50
Useful Gifts at Various Prices
Sweaters
Scarf Pins
Traveling Sets
Traveling Bags
Bed Room Slippers
Gloves
Night Shirts
Umbrellas
Smoking Jackets
Bath Robes
Caps
Belts
Underwear
Garters
Shoes
Trunks
Overcoats
Suit of Clothes
'DO YOU CHRISTMAS SHOPPING
EARLY."
You may have something in mind
that doesn't appear on this page; ask
for it we may have it.
Gifts For Children
Baby Bath Robes, attractive and
nobby $1.69
Child's Bedroom Slippers $1, $1.25
Handkerchiefs, dainty patterns 5c up
Sweater Suits, assorted colors.
Toques and Caps 25c to 69c
ALSO NICE ASSORTMENT OF:
Baby Comforts Socks
Mittens Baby Blankets
Vainty Sets Coats
Shoes Sewing Boxes
Infants Novelties all kinds.
TOYS
Toys of every description. Me
chanical and educational. Dolls for
the girls; Erectors for the boys. The
children will be delighted to visit our
store during the Holiday Season
bring them with you.
"DO YOU CHRISTMAS SHOPPING
EARLY."
You Will SAVE Time, Trouble and Money By Coming HERE!
TOE ANCHOR
TORE
SERVES YOU BEST AND SELLS FOR LESS.
HENDERSON, NORTH CAROLINA.
1 3
computed by adding to the net ope;
ating income the income from the se
curities owned and deducting bond if.
terest. were for 1910, 7.09 per cent;
for 1911, 6.17 per cent; for 1912, 4.97
per cent; for 1913, 5.94 per cent: for
1914. 4.06 per cent; for 1915, 3.44 per
cent, thus showing an almost contin
uous decrease throughout this six year
period. It was announced that Hal
ford Erickson, formerly chairman of
:the Wisconsin Railroad Commission
would submit more complete informa
tion on this subject to the Committer
it a later date.
Eggs are incubated im China, by
burying them in warm rice, which is
heated daily.
Chamberlain's Tablets.
Chamberlain's Tablets are inten
ded especially for stomach troubles;
biliousness and constipation, and
have met with much success in the
treatment of those diseases. People
who have suffered for years with
stomach trouble have been unable to
obtain any permanent relief, have
been completely cured by the -use of
these tablets. Chamberlain's Tablets
are also of great value for bilious
ness. Chronic constipation may be
permanently cured by taking Cham
berlain's Tablets and observing the
plain printed directions with each
bottle. adv
The public vehicles plying the
streets of London are decreasing by
degrees.
Best Joke of the Season.
Polk Miller was met one morning
by a negro friend who had a turkey
he wanted to sell to him. Mr. Miller
asked him whether the -bird was a
wild turkey or a tame turkey. The
darkey told him that it was tame and
with that representation Mr. Miller
bought it. When it was cooked and
put on the table, Mr. Miller discov
ered that there were shot in it. He
put the shot in his pocket, and whem
he saw the darkey the next morning,
pulled the shot out of his pocket, and
said, " Look here, Jim, you lied to
me ; you told me that was a tame tur
key and here are the shot I got out
of it."
The darkey said, " Yes, Mr. Miller,
that sure was a tame turkey dem
shot was intended for me."
CHRISTMAS HOLIDAY
ROUND TRIP EXCURSION FARES
VIA
SOUTHERN RY.
The Southern Railway will sell
low round trip Christmas Holiaay
Excursion tickets on December yi.
to 25th, inclusive, with final linn
reach original starting voint w
than midnight of January 10th,
For information as to rates, scne
ules, sleeping car reservations ei
ask Southern Railway agents, or
dress. j A
J. O. JONES, T P. A- f N c.